Governor Phil Murphy and the New Jersey Board of Public Utilities (NJBPU) announced the opening of Charge Up+, an additional income-based incentive of $2,000 available through the State’s Charge Up New Jersey electric vehicle (EV) incentive program. The announcement follows the launch of Year Five of Charge Up New Jersey in July 2024.
“Through the introduction of Charge Up+, the Murphy Administration is once again building upon the success of its highly popular EV incentive program,” said NJBPU president Christine Guhl-Sadovy. “Combined with the Charge Up base incentive and federal EV tax credit, this additional incentive will further expand the number of New Jersey families who can reap the environmental and economic benefits of clean transportation.”
Through Year Five of the Charge Up New Jersey program, all eligible vehicles up to a Manufacturer’s Suggested Retail Price (MSRP) of $55,000 can receive a $2,000 base incentive.
Residents can take advantage of this incentive directly at the car dealership or showroom and apply the incentive instantly to their purchase or lease at the point of sale. Charge Up New Jersey also offers a $250 rebate for the purchase and installation of a qualifying Level 2 charger through the In-Home EV Charger Incentive.
The additional income-based incentive of $2,000 will be available to prequalified income-eligible applicants for a total of $4,000. Customers who are eligible for the Charge Up+ incentive must prequalify before visiting the dealership to ensure that the full $4,000 can be applied to their purchase or lease.
Customers must prequalify online by demonstrating proof that they participate in another income-based state or federal program or by submitting tax information proving that they meet the following income eligibility:
- $75,000 for a single filer
- $112,500 for a head of household
- $150,000 for a household
To date, more than 37,000 EV incentives and more than 6,900 EV charger incentives have been approved through Charge Up New Jersey. As of June 30, 2024, there were nearly 184,000 EVs registered in the Garden State, where EVs accounted for 2.6% of total registered vehicles and 11.6% of new vehicle sales in March 2024. Residents can find real-time updates on available funding through Charge Up New Jersey here.
For more information regarding incentives to drive green, click here. For more information regarding an additional federal tax credit toward an EV purchase, visit here. Please note Charge Up+ will not be available retroactively if an applicant purchased or leased an eligible vehicle prior to the introduction of the additional incentive.
Filed Under: Charging, Technology News